HomeMy WebLinkAbout8-26-2004-11.08 - Resolution - 08/26/2004RESOLUTION NO. 8-26-2004-11 . 08
A RESOLU'IION OF THE crri' COUNCIL OF THE CITY OF COT]~GE STATION,
TEXAS, APPROVING AND AUTHORIZING THE IMPLEMENTATION OF THE
INYESTMENT POLICY.
WHEREAS, the goal of the City of College Stauon is to create an investment pohcy to ensure the
safety of all funds entrusted to the City, while malang avmlable those funds for the payment of all
necessary obhgauons of the City, and pro~qchng for the investment of all funds not urunedmtely
requ~ed tn interest beanng secunUes, and
WHEREAS, the safety of the pnncapal invested shall always be the primary concern of the C~ty
of College Stauon, and
WHEREAS, the management of momes m order to ensure mammum cash avaflabihty and
maramum y~elds on a short term investment m a primary goal of the Oty of College Stauon; and
WHEREAS, the C~ty Councd of the C~ty of College Staaon has renewed the investment pohcy
and investment strategy for the Fmcal Year 2004; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS
PART 1
That the City Council has rexqewed the investment pohcy and investment strategy
for the C~ty of College Stauon, prov~chng for an acUve cash management pohcy to
be pursued by the C,ty m order to mararmze mvesUnent interest as a vmble and
material revenue source wlule sull provichng maximum cash avaflabthty
PART 2
That the C~ty Council hereby approves the investment pohcy and investment
strategy for the Ctty of College Stauon
PART 3' That flus resoluuon shall take effect ~mmechately from and after its passage
ADOPTED th~s 26th day of
CONNIE HOOKS, City Seerets~
August
,AD 2004
APPROVED
APPROVEJ2).
C~ty Attorney